Dangote Refinery begins first petrol rollout

Dangote Refinery has officially rolled out its first Premium Motor Spirit (petrol) from its 650,000 barrels per day Lagos-based facility, marking a major milestone in Nigeria’s quest for fuel self-sufficiency. Aliko Dangote, President of Dangote Group, announced this during a press conference on Tuesday, highlighting the refinery’s potential to curb import dependence, ease inflation, and stabilize the Naira against the dollar.

Dangote emphasized that the petrol, which meets global standards, will soon be available in the Nigerian market once final negotiations with the Nigerian National Petroleum Company Limited (NNPCL) are completed. “It’s a day of celebration. As soon as we finalize with NNPCL, our product will start entering the market,” he said, expressing gratitude for the support received in making the project a reality.

The refinery, valued at $20 billion, began producing Naphtha and Aviation Fuel earlier this year and is set to officially commence full operations in January 2024. This rollout comes amid a severe fuel crisis in Nigeria, where petrol prices have surged to over N1,000 per liter in some regions, leaving citizens grappling with long queues and high costs.

As Nigeria battles prolonged fuel shortages, the commencement of petrol production at Dangote Refinery is seen as a crucial step toward energy security and economic stability. The country now eagerly awaits the refinery’s impact on the volatile fuel market and the broader economy.